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i was there when ronald reagan -- to give specifics of what he was going to cut. in terms of -- he gave specifics in what he was going to cut. 90% of american businesses make less than 2 luckett $50,000. that counts as businesses. governor romney 10 days ago was asked, you pay 40% on $20 million. some are making $50,000 and paid more than that. do you think that is fair and he said that is fair. you think these guys are going to go out there and cut those loopholes? the loopholes, the biggest loophole that take advantage of is the interest loophole and capital gains loophole. the extent that. there's not enough -- the reason why the aei study, the tax policy center study, the reason they say it will -- taxes will go up on the middle class, the only way you can 5 -- fined $5 trillion is cut the local production. cut the health care deduction, take away their ability to take a tax break to send their kids to college. >> he is wrong about that. you can cut tax rates by 20% and still preserve these preferences for middle-class taxpayers. >> not mathematically possible
i was there when ronald reagan -- to give specifics of what he was going to cut. in terms of -- he gave specifics in what he was going to cut. 90% of american businesses make less than 2 luckett $50,000. that counts as businesses. governor romney 10 days ago was asked, you pay 40% on $20 million. some are making $50,000 and paid more than that. do you think that is fair and he said that is fair. you think these guys are going to go out there and cut those loopholes? the loopholes, the biggest...
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. >> look at what ronald reagan did. he worked together to lower tax rates and broaden the base and they worked together to fix that. what we're saying, here's our frame work. lower tax rates 20%. we've raise about $1.2 trillion through income taxes. we forego about $1.1 trillion in loopholes and deductions. what we're saying is, deny those loopholes and deductions to higher income taxpayers so that more of their income is taxed, which has a broader -- >> can i transplait? >> here's why i'm saying this. >> i hope i'm going to get time to respond. >> you'll get time. >> we want to work with the congress to help us to achieve this. that means successful. >> no specifics, again. >> what we're saying lower tax rates 20%. start with the wealthy. work with congress. >> you guarantee this math will add up? >> absolutely. six studies have verified this math adds up. >> vice president biden? >> let me translate. let me have a chance to translate. >> i'll come back in a second. >> first of all, i was there when ronald reagan was t
. >> look at what ronald reagan did. he worked together to lower tax rates and broaden the base and they worked together to fix that. what we're saying, here's our frame work. lower tax rates 20%. we've raise about $1.2 trillion through income taxes. we forego about $1.1 trillion in loopholes and deductions. what we're saying is, deny those loopholes and deductions to higher income taxpayers so that more of their income is taxed, which has a broader -- >> can i transplait? >>...
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ronald reagan signed on to one of the largest -- one of the largest tax increases -- >> that was a tax -- >> that's why -- >> tax reform -- >> kept it from exploding. >> worked out -- >> you have to have some notion of what you want to do. >> the issue here is that, you know, romney has not put any of the details out. i mean, that is true. he's thrown some ideas. he said he's going to balance the budget in seven to ten years while doing tax reform, while increasing defense spending, not touching medicare. i mean there's a lot of things that don't add up but because romney has not given the details doesn't give the president the right to make them up for him. i mean, he is not going to have a $5 trillion net tax cut. >> absolutely good at details -- >> that's not his plan. >> but i think to say there's a $5 trillion tax cut to be offset by mystery meat. you know, that's a correct statement. >> or -- >> there's a $5 trillion tax cut, well, but we don't know what it is he's going to do but what he proposed is a $5 trillion tax cut plus he says, trust me, i'll do something he different. th
ronald reagan signed on to one of the largest -- one of the largest tax increases -- >> that was a tax -- >> that's why -- >> tax reform -- >> kept it from exploding. >> worked out -- >> you have to have some notion of what you want to do. >> the issue here is that, you know, romney has not put any of the details out. i mean, that is true. he's thrown some ideas. he said he's going to balance the budget in seven to ten years while doing tax reform,...
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Oct 12, 2012
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. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. what we're saying is, here is our frame work. lower taxes 20%. 1.1 million in loopholes and deductions. deny those loopholes and deductions to higher-income taxpayers so more income is taxed, which has a broader base of taxation. and here is why i'm saying this. what we're saying -- >> i hope i get time to respond to this? >> you will get time. >> we want to work with congress, that means specifically. >> no specific. >> what we're saying is lower tax rates 20%. >> and you guarantee this math will add up. >> six studies have guaranteed and said this math adds up. >> let me translate. >> i'll come back in a second, right? >> i was there when ronald reagan you gave tax rates, he gave specifics of what he would cut in terms of taxan expenditures. 90% of small businesses in america make less than 250,000. let me tell you who other small businesses are. hedge funds, that make $600, $800 million a year. that will count as small b
. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. what we're saying is, here is our frame work. lower taxes 20%. 1.1 million in loopholes and deductions. deny those loopholes and deductions to higher-income taxpayers so more income is taxed, which has a broader base of taxation. and here is why i'm saying this. what we're saying -- >> i hope i get time to respond to this? >> you will get time. >> we want to...
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Oct 12, 2012
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>> look at what -- look at what ronald reagan and tip o'neill did. they worked together out of a frame work to lower tax rates and broaden the base and fix na. we are saying, here's our frame work, lower tax rates 20%. we raised $1.2 trillion in income taxes and forego $1.1 trillion in loophole deductions. we are saying, deny the loopholes and deductions to higher-income taxpayers, so more of their income is taxed -- >> can i translate? >> to lower the tax rates across the board. what we are saying -- >> i hope i get time to respond-- >>> you will get time. >> we want to work with congress on how best to achieve this. >> martha: no specifics? >> lower tax rates 20%, start with the wealthy. work with congress to do it? >> martha: you guarantee this math will add up. >> six studies have guaranteed and verified. >> martha: vice-president -- [overlapping dialogue] >> let me translate. let me have a chance to translate. >> first of all, i was there when ronald reagan tax rates and he gave specifics of what he was going to cut, number 1 nterms of tax expen
>> look at what -- look at what ronald reagan and tip o'neill did. they worked together out of a frame work to lower tax rates and broaden the base and fix na. we are saying, here's our frame work, lower tax rates 20%. we raised $1.2 trillion in income taxes and forego $1.1 trillion in loophole deductions. we are saying, deny the loopholes and deductions to higher-income taxpayers, so more of their income is taxed -- >> can i translate? >> to lower the tax rates across the...
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Oct 14, 2012
10/12
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KGO
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>> reporter: when president ronald reagan uttered that one line. president obama hopes that one exception is the only one. >> that debate. what happened? >> coverager romney had a good night. i had a bad night. >> how bad? >> it's not the first time i had a bad night. what is important is the fundamental of what this race is about haven't changed. >> karl rove wrote that the first debate will be seen as the decision point in this election. do we make too big a deal out of debates? or does mr. rove have a point? >> we make too big a deal in that it's hard to argue that debates test or reveal aptitudes that are pertinent to the performance of presidential duties. debates are now semiconstitutional events. you cannot become president without participating. clearly, in close elections, '60, '76, 2000, it's plausible to say they caused enough change to be the margin of difference. with regard to this year's, it's too soon to say whether the surge mitt romney got from his debate performance is enough or not. if it is durable, it will be because what happ
>> reporter: when president ronald reagan uttered that one line. president obama hopes that one exception is the only one. >> that debate. what happened? >> coverager romney had a good night. i had a bad night. >> how bad? >> it's not the first time i had a bad night. what is important is the fundamental of what this race is about haven't changed. >> karl rove wrote that the first debate will be seen as the decision point in this election. do we make too big...
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Oct 12, 2012
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. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. what we're saying is, here is our frame work. lower tax rates 20%. we raise about $1.2 trillion through income taxes. we forego about $1.1 trillion in loopholes and deductions. so what we're sayg is s >>et to lower tax rates across the board. here's why i'm saying this. >> i hope i'm getting a timed response. >> you'll get time. >> we want to work with congress on how best to achieve this. that means successful -- >> no specifics, again. >> what we're saying is lower tax rates 20%. start with the wealthy. work with congress. >> can you guarantee this math will add up? >> absolutely. >> six study advisory guaranteed. six study advisory verified this math adds up. >> vice president biden. vice president biden. >> let me translate. let me have a chance to translate. >> i'll come back in a second then, right? >> i was there when ronald reagan -- he gave specifics to what he was going to cut, number one, in terms of tax expendit
. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. what we're saying is, here is our frame work. lower tax rates 20%. we raise about $1.2 trillion through income taxes. we forego about $1.1 trillion in loopholes and deductions. so what we're sayg is s >>et to lower tax rates across the board. here's why i'm saying this. >> i hope i'm getting a timed response. >> you'll get time. >> we want to work with...
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Oct 13, 2012
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ronald reagan's. with the limits that you are in a government where we are now looking at very few paying the freight for it we have to do something about that. >> i think we do. but let me tell you. powers at be are not in washington. as long as you are there, powers that be are in washington. >> i have you on the phone. >> enough said i got you on the phone. we talk about a simplified tax code and i think it is the way to go. >> i think that is what paul ryan should have said to joe biden. he voted for 50 to 28%. and the democrats led the fight over the years and kerry brown he wanted 100 percent to pay income tax at the exact same rate and came in second in the primary in 1992 in the democratic party. everyone knows you should have a low rate flat tax for economic growth and/or fairness. it is the right way to go. >> i'm sorry. but everyone having skin in the game. >> exactly. >> they are not looking at the poorest among us. but if you have a stake in the game you are interested in the game and you
ronald reagan's. with the limits that you are in a government where we are now looking at very few paying the freight for it we have to do something about that. >> i think we do. but let me tell you. powers at be are not in washington. as long as you are there, powers that be are in washington. >> i have you on the phone. >> enough said i got you on the phone. we talk about a simplified tax code and i think it is the way to go. >> i think that is what paul ryan should...
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. >> ronald reagan -- >> reporter: at the end, each man summed up and both chose to attack. >> my friend says that 30% of the american people are takers. romney points out 47% of the people won't take responsibility. he's talking about my mother and father. talking about the places i grew up, my neighbors. he's talking about, he's talking about the people that built this country. all they're looking for is an even shot. >> president obama, he had his chance. he made his choices. this is not what a real recovery looks like. you deserve better. mitt romney and i want to earn your support. we're offering real reforms for a real recovery for every american. >> at least it was a lot better watch than the romney/obama. meanwhile hashtag mularkey is trending nationwide. and martha raddatz has received 80,000 twitter mentions, some saying martha for vice president. >>> next, our political insiders are going to tell us who made the grade tonight. [ feedback ] attention, well, everyone. you can now try snapshot from progressive free for 30 days. just plug this into your car, and your good driving
. >> ronald reagan -- >> reporter: at the end, each man summed up and both chose to attack. >> my friend says that 30% of the american people are takers. romney points out 47% of the people won't take responsibility. he's talking about my mother and father. talking about the places i grew up, my neighbors. he's talking about, he's talking about the people that built this country. all they're looking for is an even shot. >> president obama, he had his chance. he made his...
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ronald reagan -- >> oh, now you're jack kennedy? >> reporter: biden went right at ryan over mitt romney's controversial comments calling 47% of americans who don't pay income taxes irresponsible. >> the idea, if you heard that, that little soliloquy on 47%, you think he just made a mistake, then i got a bridge to sell you. >> i think the vice president very well knows sometimes the words don't come out of your mouth the right way. >> but i always say what i mean. >> reporter: when biden wasn't talking, he seemed oddly amused. by our count -- smiling or breaking out in laughter 92 separate times. expressive, often interrupting and occasionally personal. >> this is a bunch of stuff. look, here's the deal. >> what does that mean, a bunch of stuff? >> well, it means it's simply inaccurate. >> it's irish. >> it -- it is. we irish call it malarkey. >> thanks for the translation. >> reporter: and ryan needled ryan over the president's performance in last week's debate. >> i know you're under a lot of duress to make up for lost ground. but
ronald reagan -- >> oh, now you're jack kennedy? >> reporter: biden went right at ryan over mitt romney's controversial comments calling 47% of americans who don't pay income taxes irresponsible. >> the idea, if you heard that, that little soliloquy on 47%, you think he just made a mistake, then i got a bridge to sell you. >> i think the vice president very well knows sometimes the words don't come out of your mouth the right way. >> but i always say what i mean....
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Oct 12, 2012
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>> first of all, i was there when ronald reagan was there. he gave specifics of what he was going to cut, number one, in terms of tax expenditures. number two, 97% of the small businesses in america make less than $250,000. let me tell you who some of those other small businesses, hedge funds that make $600, $800 million a year. they dhunt as small business. let's look at how sincere they are. governor romney on "60 minutes" about ten days ago was asked, governor, you pay 14% on $20 million. someone making $50,000 paid more than that. do you think that's fair? he said oh, yes, that's fair. that's fair. and they're going to talk -- you think these guys are going to go out there and cut those loopholes? the biggest loophole they take advantage of is the carried interest loophole and capital gains loophole. they exempt that. now, the reason why. aei study, the american enterprise institute study, the tall policy center study, the reason they say taxes are going up on the middle class, the only way you can find $5 trillion in loopholes is cut the
>> first of all, i was there when ronald reagan was there. he gave specifics of what he was going to cut, number one, in terms of tax expenditures. number two, 97% of the small businesses in america make less than $250,000. let me tell you who some of those other small businesses, hedge funds that make $600, $800 million a year. they dhunt as small business. let's look at how sincere they are. governor romney on "60 minutes" about ten days ago was asked, governor, you pay 14% on...
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. >> ronald reagan. >> now you're jack kennedy. >> ronald reagan. >> twitter was atwitter about that. that comment got a noticeable reaction from the group of undecided voters i watched during the debate last night. see it blown up there in the bottom of the screen. here is the problem, both kennedy and reagan working in a different time and place. to start, when both kennedy and reagan took office, individual tax rates not even in the ballpark of what we have now. kennedy's plan, enacted after his death, took the top marginal tax rate from 91% to 71% over a two-year period. lots of loopholes, but the growth argument, gdp rose by barely a percent during that time. isn't much when the economy was growing at a rate like china's, but the u.s. was at the time. they got a boost, but not much of one. ronald reagan's first big tax cut went into effect, and the economy did surge. economic growth went from 4.9% to north of 8%. year three, not so impressive. look at quarters, there were some drops. for perspective, today, the top marge call tax rate is 30%, not like are you at 70 or 90. can a r
. >> ronald reagan. >> now you're jack kennedy. >> ronald reagan. >> twitter was atwitter about that. that comment got a noticeable reaction from the group of undecided voters i watched during the debate last night. see it blown up there in the bottom of the screen. here is the problem, both kennedy and reagan working in a different time and place. to start, when both kennedy and reagan took office, individual tax rates not even in the ballpark of what we have now....
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Oct 12, 2012
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. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. and they worked together to fix that. what we're saying is, here's our framework, lower taxerates about 20%. we forego about 1.1 trillion in loopholes and deductions. whoa we're saying is deny those loopholes and deductions to higher income taxpayers to more of their income is taxed. so we can lower tax rates across the board. here's why i'm saying this. >> i hope i'm going to get time to respond to this one. >> you'll get time. >> we want to work with congress on how to achieve this. >> no specifics? >> lower tax rates 20%. start with the wealthy. work with congress to do it. >> you guarantee this math will add up? >> six studies have guaranteed. six study have verified this math adds up. >> let me have a chance to translate. i was there when ronald reagan gave specifics on what he would cut. number two, 97% of small businesses in america make less than $250,000. let me tell you who some of the small businesses are. hedge
. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. and they worked together to fix that. what we're saying is, here's our framework, lower taxerates about 20%. we forego about 1.1 trillion in loopholes and deductions. whoa we're saying is deny those loopholes and deductions to higher income taxpayers to more of their income is taxed. so we can lower tax rates across the board. here's why i'm saying this. >> i hope i'm...
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ronald reagan -- >> oh. now, you're jack kennedy. >> reporter: vice president joe biden and republican challenger, paul ryan, delivered stark difference on domestic and foreign policy. including how to fix the economy. >> we're going in the wrong direction. look at where we are. the economy is barely limping along. >> it shouldn't be surprising for a guy who says 47% of the american people are unwilling to take responsibility for their own lives. they pay more effective tax than governor romney pays in his federal income tax. >> reporter: ryan went after president obama for his response to the u.s. consulate attack in libya. >> it took the president two weeks to acknowledge that this was a terrorist attack. >> reporter: while biden challenged ryan's proposed changes to medicare. >> you are jeopardizing the program. you're changing the program from a guaranteed benefit. >> reporter: it was a more heated back and forth than the first presidential debate. and biden often laughed at ryan's arguments. >> joe bide
ronald reagan -- >> oh. now, you're jack kennedy. >> reporter: vice president joe biden and republican challenger, paul ryan, delivered stark difference on domestic and foreign policy. including how to fix the economy. >> we're going in the wrong direction. look at where we are. the economy is barely limping along. >> it shouldn't be surprising for a guy who says 47% of the american people are unwilling to take responsibility for their own lives. they pay more effective...
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Oct 12, 2012
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>> first of all, i was there with ronald reagan. he gave specific to what he was going to cut, number one, in terms of tax expenditures. number two, 97% of the small business in america pay less than-- make less than $250,000. let me teal you who some of other small businesses are, hedge funds that make 600, 800 million a year. that's who they count as small business because they're pass-through. let's look at how sincere they e.e. governor romney on "60 minutes--" i guess it was about 10 days ago-- was asked, governor you pay 14% on $20 million. someone making $50,000 pays more than that. do you think that's fair? he said oh, yes, that's they are, that's fair. and they're going-- you think these guys are going to go out there and cut those loopholes. the biggest loophole they take advantage of is the carried interest loophole and capital gains loophole. they exempt that. there's not enough it's reason why the a.a.i. study, the american enterprise institute study, the tax policy study, the reason they say taxes will go up on the mid
>> first of all, i was there with ronald reagan. he gave specific to what he was going to cut, number one, in terms of tax expenditures. number two, 97% of the small business in america pay less than-- make less than $250,000. let me teal you who some of other small businesses are, hedge funds that make 600, 800 million a year. that's who they count as small business because they're pass-through. let's look at how sincere they e.e. governor romney on "60 minutes--" i guess it...
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Oct 14, 2012
10/12
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ronald reagan proposed sweeping tax rate reduction and the result revenues up 99%. biden: we made sure we cut taxes for the middle-class. gerri: not even close to trooper release seven taxes from obamacare ball directly on the middle class. the tax for not having health care insurance. obamacare taxed the ma in the name of flexible spending account in those to deduct from taxes. i could go on and on. joe biden scored big points claiming hedgefunds would benefit. biden: 90% of small business america make less than $250,000. others are hedge funds making $600 billion per year that counts as the small business. gerri: hedge fund? the irs says they fall within the household of the top two brackets that the administration wants to raise taxes. and more than half of americans. vice president wants to raise taxes on small business. paul ryan does not. beau biden says the plan worked anybody knows the numbers knows it is not true. the federal deficit on track to hit $1 trillion for the fourth year in a row. the administration does not have a lot of bragging rights. 15% on f
ronald reagan proposed sweeping tax rate reduction and the result revenues up 99%. biden: we made sure we cut taxes for the middle-class. gerri: not even close to trooper release seven taxes from obamacare ball directly on the middle class. the tax for not having health care insurance. obamacare taxed the ma in the name of flexible spending account in those to deduct from taxes. i could go on and on. joe biden scored big points claiming hedgefunds would benefit. biden: 90% of small business...
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Oct 13, 2012
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. >> look at what mitt romney--look at what ronald reagan and tip o'neill did. >> michael: i mean, as my friend cenk uygur would say, of course! the reagan defense. they've relyied on drawing a comparison to ronald reagan as well as one other president. >> it's been done before. >> it's never been done before. >> jack kennedy lowered tax-- >> now you're jack kennedy. >> if jack kennedy only knew how much he would come up in vice presidential debates i think paul ryan knew where that was going. i'm joined by erol lewis and thomas frank, thank you for sticking around and talking to us. you know in looking back at this it really taxes the way that they come up in these debates. the thing they're not talking about are mitt romney's taxes. the idea that they can look back and talk about taxes and ryan still getting caught with these lies and then the next day saying that's exactly what we meant to say. how does this work, errol. >> a promise has been made. a big broad promise has been made to splash taxes. it's estimated by a reasonable objective source that this could cost treasury 5 tril
. >> look at what mitt romney--look at what ronald reagan and tip o'neill did. >> michael: i mean, as my friend cenk uygur would say, of course! the reagan defense. they've relyied on drawing a comparison to ronald reagan as well as one other president. >> it's been done before. >> it's never been done before. >> jack kennedy lowered tax-- >> now you're jack kennedy. >> if jack kennedy only knew how much he would come up in vice presidential debates i...
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Oct 13, 2012
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MSNBC
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. >> ronald reagan -- >> now you're jack kennedy? >> ronald reagan -- >> "now's" terri o'neal on the romney ticket's disaster for women. >> if the romney/ryan ticket is elected, should those who believe abortion should remain legal be worried? >> david cay johnston on ryan's sixth study lie. >> can you guarantee this math will add up? >> absolutely. six studies have guaranteed. >> and what's more disrespectful? lying to america or interrupting a guy who's lying to america? >> it was openly contemptuous and disrespectful. >> karen finney on the right wing freak-out over joe biden's knockout performance. >> ever felt that way where you just want to deck somebody? >> an obnoxious drunk. i think somewhere during the debate he took ritalin. >>> good to have you with us tonight, folks. thanks for watching. what did we see? we witnessed a schooling on the issues by vice president joe biden last night. it really was the shot in the arm the democrats and the progressives were hoping for. after watching mitt romney get away with lie after lie
. >> ronald reagan -- >> now you're jack kennedy? >> ronald reagan -- >> "now's" terri o'neal on the romney ticket's disaster for women. >> if the romney/ryan ticket is elected, should those who believe abortion should remain legal be worried? >> david cay johnston on ryan's sixth study lie. >> can you guarantee this math will add up? >> absolutely. six studies have guaranteed. >> and what's more disrespectful? lying to america or...
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Oct 12, 2012
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biden: ronald reagan gave specifics to what he was going to cut, number one. number two, 97% of the small businesses in america pay less -- make less than $250,000. let me tell you who some of those other small businesses are, hedge funds that make six, eight hundred million dollars a year. what they count as small business because they're pass-through. let's look at how sincere they are. ronald -- i mean, excuse me, governor romney on "60 minutes," i guess it was about ten days ago was asked, golf, you pay 14% on $20 million. some are making $50,000 pay more than that. do you think that's fair? he said, oh, yes, that's fair. and they're going to talk -- you think these guys are going to go out there and cut those loopholes? the biggest loophole they take advantage of is the carried interest loophole and capital gains loophole. they exempt that. now, there's not enough -- the reason why the aei study, the american enterprise institute study, the tax policy center study, the reason they all say it's going to go up on the middle class, the only way you can find
biden: ronald reagan gave specifics to what he was going to cut, number one. number two, 97% of the small businesses in america pay less -- make less than $250,000. let me tell you who some of those other small businesses are, hedge funds that make six, eight hundred million dollars a year. what they count as small business because they're pass-through. let's look at how sincere they are. ronald -- i mean, excuse me, governor romney on "60 minutes," i guess it was about ten days ago...
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Oct 12, 2012
10/12
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FBC
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>> i think he might, he might take cues in a since of knowing how ronald reagan approached the debate to maintain a friendly disposition to be alert to the questions, and respond appropriately. and also to be very polite, and to be the gentlemen he always was. neil: ed, i am wondering, as a former attorney general, now, a lot of legal questions raised about the benghazi blow up, what the administration knew, many are demanding to see cables from ambassador stephens that they think shows he was concerned about his safety, that it could blow up, and legally it should be investigated, and warrant the hiring of a special prosecutor. do you think it blows up to be that big of an issue, and do you think it will come up in this debate. >> it may come up, i think that the administration is in a very tough position, they have two answers, which were not good, one is they were incompetent the other, they were lying. neil: true to your word, keeping it straight and simple like your old boss. if it takes away from this administration. you heard from time again from vice president that osama bin l
>> i think he might, he might take cues in a since of knowing how ronald reagan approached the debate to maintain a friendly disposition to be alert to the questions, and respond appropriately. and also to be very polite, and to be the gentlemen he always was. neil: ed, i am wondering, as a former attorney general, now, a lot of legal questions raised about the benghazi blow up, what the administration knew, many are demanding to see cables from ambassador stephens that they think shows...